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Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 30907
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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Im considering filing Chapter 7 Bankruptcy and I want to keep

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Im considering filing Chapter 7 Bankruptcy and I want to keep my home Iam current on the mortgage The house is valued at $150,000 I have a mortgage of $42,000 and a Home equity loan of $31,00 What are my best options or choices. I believe the homestead exception in RI is $2000.00
Hi - my name is XXXXX XXXXX I'm a Bankruptcy litigation attorney. Thanks for your question. I'll be glad to help.

If you are current on your mortgage and file chapter 7, the best thing you can do is offer to enter into a reaffirmation agreement with the lenders of you mortgage and line of credit.

Also, I believe Rhode Island has a $300,000 homestead exemption for bankruptcy filings, so you should be safe:

Thus, your equity should be safe, and if you reaffirm the debt and continue to pay, you should be able to keep your home.
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